LWV League of Women Voters of California
Smart Voter
State of California November 5, 2002 Election
Proposition 46
Housing and Emergency Shelter Trust Fund Act of 2002
State of California

Bond Measure

3,895,071 / 57.5% Yes votes ...... 2,880,506 / 42.5% No votes

See Also: Index of all Propositions

Results as of Nov 14 11:14am, 100.0% of Precincts Reporting (24726/24726)
Information shown below: Summary | Yes/No Meaning | Official Information | Arguments |

Should the state create a trust fund by selling two billion one hundred million dollars ($2,100,000,000) in general obligation funds to fund twenty-one types of housing programs--including multifamily, individual and farmworker housing?

  • Creates trust fund to: provide shelters for battered women; clean and safe housing for low-income senior citizens; emergency shelters for homeless families with children; housing with social services for homeless and mentally ill; repairs/accessibility improvements to apartments for families and handicapped citizens; military veteran homeownership assistance; and security improvements/repairs to existing emergency shelters.
  • Funded by bond issue of two billion one hundred million dollars ($2,100,000,000).
  • Makes cities and counties eligible to receive specified funds.
  • Subjects expenditures to independent audit.
  • Appropriates money from state General Fund to repay bonds.

Summary of Legislative Analyst's Estimate of Net State and Local Government
Fiscal Impact:

  • State cost of about $4.7 billion over 30 years to pay off both the principal ($2.1 billion) and interest ($2.6 billion) costs on the bonds. Payments of about $157 million per year.

Meaning of Voting Yes/No
A YES vote of this measure means:
The state could sell $2.1 billion in general obligation bonds to support various housing programs.

A NO vote of this measure means:
The state could not sell $2.1 billion in general obligation bonds for these purposes.

Official Sources of Information
Arguments Submitted to

Summary of Arguments FOR Proposition 46:
Proposition 46 provides emergency shelters for battered women, affordable housing for seniors, low-income families, homeless shelters with social services; paid out of existing state resources without raising taxes; endorsed by AARP, Congress of California Seniors, League of Women Voters of California, California Chamber of Commerce, California State Sheriffs Association.

Full Text of Argument In Favor, Rebuttal

Summary of Arguments AGAINST Proposition 46:
This bond will provide $2.1 billion for housing projects, but will cost taxpayers approximately $3.36 billion to pay off. It will provide only miniscule benefits to firsttime homebuyers and will do NOTHING to remove the bureaucratic and regulatory barriers to affordable housing throughout California.

Full Text of Argument Against, Rebuttal

Contact FOR Proposition 46:
Julie Snyder
Yes on Proposition 46/Housing California
926 J Street, Suite 1400
Sacramento, CA 95814

Contact AGAINST Proposition 46:
No contact information was provided.

  Official Information

Secretary of State

Legislative Analysts's Office Nonpartisan Information

League of Women Voters - Analysis

League of Women Voters - Background California Voter Foundation News and Analysis

KQED-FM Forum 88.5 San Francisco

San Diego Union Tribune Sacramento Bee Events

LWV Pros & Cons Public Meetings

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Created: December 6, 2002 03:15 PST
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